Greetings!
2022 has been another busy year for us here at FKCB, as I am sure it may have been for you as well.
Throughout the year, we stayed focused on First Keystone’s financial performance. We have remained committed to increasing revenue from core operating functions and reducing expenses, all while improving our day-to-day interactions and increasing productivity. I am pleased to share some highlights of the financial progress we made for the nine months ended
September 30, 2022:
- Our net income was $10,869,000
- Net loans grew by 11.8% to $836 million
- Return on Average Assets ratio was 1.10% and Return on Tangible Equity came in at 12.52%
- Net income per share was $1.82, while dividends were $0.84 per share
I am also excited to share news that two of our employees, Tom McGrath and Amanda Jarski, graduated from the PA Bankers Advanced School of Banking.
The Advanced School is a three-year college level program that teaches financial services knowledge and skills and paves the road for participants to become leaders within their organization.
Part of the learning experience includes having students of varying banking backgrounds function as a senior management team to strategize and manage a bank under several scenarios. "Bank simulation" is run as a contest amongst all the teams, with success measured by profitability, shareholder value, etc. Tom McGrath was CEO of his bank, and his team won the competition!
In addition to her diploma, Amanda received the prestigious Dr. Philip O. Benham, Jr. Achievement Award. Only one or two students each year qualify to receive the Award, as they must achieve the highest academic achievements and exhibit exemplary leadership qualities throughout the three-year school.
The American Banking Association graduated 118 individuals from its Stonier Graduate School of Banking, including two of our employees, Chris Zlobik and Jonathan Littlewood. Stonier includes leadership courses taught by faculty from the Wharton School of the University of Pennsylvania and is an intensive 3-year program designed to prepare senior-level bankers with decision making and oversight skills to address high-level management issues and implement effective solutions. Congratulations to Chris and Jon for receiving diplomas from Stonier, as well as Wharton Leadership Certificates!
In October, our employee Karen Kalie was recognized as Unit Member of the Year for Pennsylvania by the American Legion Auxiliary. Karen has organized seven free chartered bus trips taking veterans to the Arlington National Cemetery, the National Mall, and monuments in Washington DC, the Flight 93 National Memorial, and Gettysburg National Military Park. Congratulations Karen and thank you for volunteering your time to coordinate such worthwhile trips for our veterans.
As always, we thank and recognize all of our employees, officers, and Board of Directors for their continued outstanding efforts. We also sincerely thank you and are grateful for your unwavering support and confidence.
On behalf of everyone at First Keystone Community Bank, we look forward to continuing to serve all your banking needs in the years to come. Wishing you and your family a very Happy Thanksgiving to kick off the holiday season!
Warmest regards,
Elaine A. Woodland
President and CEO
